Maxis to seek shareholders' nod on 5G access agreement with DNB

02/11/2022 08:25 PM

KUALA LUMPUR, Nov 2 (Bernama) -- Maxis Bhd’s board of directors will be seeking shareholders’ approval to enter into the 5G access agreement with Digital Nasional Bhd (DNB).

Maxis said the move is in accordance with Section 223 of the Companies Act 2016 and para 10.07 of the Bursa Main Market Listing Requirements.

“The board has assessed the governance requirements and, in reliance on professional advice, believes it is mandatory for Maxis to seek shareholders’ approval given the nature of the access agreement and the substantial undertaking involved,” said the company in a filing with Bursa Malaysia today.

Maxis said the company is committed to playing an active and leading role in bringing 5G to the nation, in line with the government’s digital ambitions through DNB’s network. 

The company also looks forward to bringing the best of 5G services and converged solutions to all its customers and is focused on launching 5G as part of its suite of offerings in the near future, subject to shareholders’ approval, it said. 

Maxis intends to complete the approvals process by January 2023, and commercially launch 5G-related products and services soon after.

“Further announcements setting out the details will be provided in due course,” it added.


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